Just a note for those confused by the info provided in the Displacement Packet regarding the timing...
PTO and Final Paycheck for me were just deposited in my bank account on the last day of my 60-day non-working period. Thought it would be next week, but no. Submitting my Lump Sum request tomorrow (1st day of my "free agency"). I'll let you know how long that takes to process.
Worked in Tech...Cybersecurity.
there are various laws surrounding when any accrued PTO and final pay must be paid out which is why they just pay it in your last day. you are always a week in arrears which is why that final paycheck covers 2 full weeks. it is an off cycle payment. you'll get your first severance check 3 weeks from that date which will align back to your original pay cycle. So if you got your final paycheck this past Friday June 26, you won't get anything this week which is the regular pay period and your first severance check will show up July 17 and include severance pay for the weeks of June 28 and July 6.
Monday after final pay and PTO payout...Teamworks at Home access dialed back to just W-2s and payslips. Can no longer check the internal job board.
@e9 Just submitted the Lump Sum request:
Lump Sum Requests
· Please allow five (5) business days for confirmation of receipt, review of the form and eligibility before sending a follow-up email.
· A formal acknowledgement will be sent upon completion of the review from the Severance Plan Administration team.
· Lump Sum Requests approved for processing will be paid within 60 days of Wells Fargo’s receipt of your completed Lump Sum Request form.
@ea Yes I do. Covered by the VA.
@OP Hope you have health insurance.
@d1 I do not know at this time. Curious as to when the first severance check gets paid while I'm awaiting the lump sum payout. I don't need the health insurance (100% VA disabled and spouse covered by CHAMPVA).
I too got my final paycheck and PTO on the last day which was yesterday. If you don't request your lump sum payment you get your severance paid every 2 weeks starting from the last day of the displacement period right?